Commodity Intraday Technical Outlook 22 September 2023 - Geojit Financial Services
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Gold LBMA Spot
A mild recovery in prices can be see today initially. However, it needs to close above $1950 to strengthen the view.
Silver LBMA Spot
Consistent trades above $23.40 would extend rallies. Else, a choppy trading expected the day.
Crude Oil NYMEX
Choppy trades expected initially. It is required to break and sustain above $92 to extend rallies.
Gold KG Oct
Further weakness is seen only below Rs 58200. If the level remains hold expect recovery rallies.
Silver KG Sep
If unable to move past Rs 71000 there are chances of recovery upticks to continue the day. Unexpected drop of which would trigger selling pressure.
Crude Oil Sep
Outlook remains on the bullish side and expect look for targets of Rs 7800 initially. Consistent trades below Rs 7300 could negate the view.
Natural Gas Sep
Break below the immediate support of Rs 218 would extend liquidation pressure. Else, mild recovery upticks are on the cards.
Copper Sep
Choppy with mild upside is on the cards while the support of Rs 725 remains hold downside. Unexpected drop below would weaken the momentum.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
A direct break below Rs 220 may see extension of weakness. Else, recovery rallies are on the cards.
Lead Sep
While above Rs 186 it may hold mild positive bias for the day. However, stiff resistance is seen at Rs 189.
Aluminium Sep
Immediate resistance is placed at Rs 204.50 which needs to be cleared for triggering fresh rallies. Else, choppy trade expected the day
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